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Sox Shuffle Continues
Every time we think the state's government can't get any worse, they somehow find a way to surprise us. Unable to reach a deal that'll adequately fund the CTA and its crumbling infrastructure, they think they want to buy yet another fixer-upper piece of property.
The State of Illinois is supposedly interested in buying Wrigley Field, which is for sale along with the Cubs following billionaire Sam Zell's takeover of the Tribune Co.
The Illinois Sports Facilities Authority, which was created in 1987 for the purpose of building U.S. Cellular Field, would purchase the 93 year old park and lease it to the new Cubs ownership.
Of all the stupid ideas from all the stupid politicians we've heard...wow. If we understand correctly, the would have to come up with a few hundred million dollars to purchase the stadium and pay for the extensive renovations the crumbling park needs. Then they'd make money by renting it to the Cubs? And possibly by selling naming rights?
The Trib article states that the park would likely retain the Wrigley Field name even if naming rights were sold. And how's that? By extorting millions from the gum maker? Or by slapping some unwieldy name upon the stadium like "Boeing Ballpark at Wrigley Field"? Selling a sponsorship for the upper deck to provide free tickets, as Mark Cuban suggested, we'd support. But selling naming rights to finance a government takeover? Lame...
Furthermore, what happens if the Cubs new ownership finally decides it's time for an actual modern ballpark? While the State and the Cubs' new ownership would presumably sign some sort of long term stadium lease, what happens if the Cubs decide to bolt at the lease's conclusion? That'd be some white elephant on the hands of the state.
We also have an issue with the state subsidizing billionaires. The deal would likely help the Tribune Co. maximize the sale value for the Cubs and related businesses, which benefits Zell more than anyone. And the future ownership would certainly have an easier time finding funding for a $700 million purchase than for a $1 billion one.
And how do state taxpayers benefit by owning Wrigley? While we're highly skeptical of public financing for stadiums to begin with, it's not even like the team's threatening to leave Chicago and a new park would provide jobs or keep revenue and tax money in the local area. It seems like it's nothing more than a trophy property that the state can ill afford to acquire. How about trying to sell naming rights for the El lines instead?
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"Furthermore, what happens if the Cubs new ownership finally decides it's time for an actual modern ballpark?"
Umm...the Sox move in and Trixies everywhere immediately don pink Sox hats?
Konerko...WOO! Dye...WOO! Thome...WOO!
So, let's fuck the freezing commuters all over the region, their anxieties now a year old at least, and put in danger billions of fed funds for Metra, Pace and CTA improvements/expansions.
But, let's try to put a few more bucks in Zell's already stuffed pockets, 'cause that is what public service is all about
Your state govt at work, folks.
Do we even do actual uprisings anymore, or is that too retro? It sure as hell worked for our forefathers.
@Hugh G. Rection:
That was exactly my reaction too. Lord, shoot me now.
Daley et al probably believe this will help their Olympic bid which (if we get) our children’s, children’s will still be paying off..
I wonder how much Sam Zell of a commission Blago's wife will get on the sale?
Could we get rid of the "word. word. word." thing? It's so out of date.
Do we even do actual uprisings anymore, or is that too retro? It sure as hell worked for our forefathers.
I'm beginning to see you in a different light, Matilda. I'll grab my shotgun and meet you at City Hall.
Slap: Shotguns are too messy, too imprecise :)
Matilda: Exactly. =D
Read the Sun-Times article about this...it actually sounds like a decent idea and a way to help with transit funding. renovate the ballpark a la Fenway and keep the team there for the next 30 years, sounds good to me.
Wrigley's got to be a moneymaker, but this doesn't seem like a good way to generate funds in the short term, which, coincidentally, is when the CTA is having problems.
In the alternate universe where public transit is flush with funds, buying Wrigley would be a good long-term revenue generator.
In that same alternate universe, it is warm enough in the winter to use the park for things other than baseball.
Let's not even think about them selling the naming rights. It makes baby Jesus cry tears of blood.
Wrigley's got to be a moneymaker, but this doesn't seem like a good way to generate funds in the short term, which, coincidentally, is when the CTA is having problems.
In the alternate universe where public transit is flush with funds, buying Wrigley would be a good long-term revenue generator.
In that same alternate universe, it is warm enough in the winter to use the park for things other than baseball.
Let's not even think about them selling the naming rights. It makes baby Jesus cry tears of blood.